Assistant U.S. Attorney Marcia Cohen marched into court yesterday seeking a warrant for the arrest of the two former Livent execs after they failed to show up for their arraignment on fraud and conspiracy charges.

She also announced she will seek extradition of the two, who have decided to stay home in Toronto and fight any efforts to bring them to New York.

Once magistrate Kevin Nathaniel Fox formally signs the warrant, Drabinsky and Gottlieb will be wanted in the U.S., and that warrant will then be passed on to a Canadian judge.

Drabinsky and Gottlieb say the case belongs in Canada, where Livent is based, and contend that they can’t get a fair trial here.

Prosecutors charge that the two cost U.S. investors $100 million through accounting irregularities and fraud. Both were indicted on 16 counts, which each carry penalties of up to 10 years in prison and a $1 million fine.

The SEC also filed charges, and the Royal Canadian Mounted Police continues to investigate.